trade or business

trade or business. Tax. Any business or professional activity conducted by a taxpayer with the objective of earning a profit. • If the taxpayer can show that the primary purpose and intention is to make a profit, the taxpayer may deduct certain expenses as trade-or-business expenses under the Internal Revenue Code. [Cases: Internal Revenue 3314.1–3318. C.J.S. Internal Revenue §§ 150–153, 163, 184, 270.]

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词条贡献者

译者Susanne，世界顶尖法学院国际税法专业，擅长翻译各种与联邦税务纠纷相关的法律文件。